Major events in Caspian countries' oil and gas industry for last week (May 26-31)

Major events in Caspian countries' oil and gas industry for last week (May 26-31)

Contract for South Caucasus Pipeline's expansion signed in Azerbaijan

The consortium for Shah Deniz gas and condensate field's development in the Azerbaijani sector of the Caspian Sea signed a contract with Saipem/Azfen joint venture to hold construction works for the South Caucasus Pipeline's expansion.

The value of this contract is $735 million. The start of work is scheduled for January 2015 with mechanical completion of the Georgian section expected by the end of 2016 and the Azerbaijan section by the end of 2017.

The scope of work for this contract includes: construction of a 428 km pipeline loop and associated above ground installations in Azerbaijan and Georgia and construction of another pipeline loop, and associated above ground installations in Georgia.

Contract signed on selling Total's share in Shah Deniz project

Turkiye Petrolleri Anonim Ortaklıgı (TPAO) and 'Total Azerbaijan' companies signed a contract in Istanbul on the purchase and sale of Total's 10 percent share in the project of development of Azerbaijan's 'Shah Deniz' offshore gas and condensate field.

Under the contract, the TPAO's share in this project will be increased to 19 percent.

Partners for the development of the Shah Deniz field are: SOCAR with the share of 16.7 percent, British BP (28.8 percent), Norway's Statoil (15.5 percent), Iran's NICO (10 percent), French Total (10 percent), Russia's Lukoil (10 percent) and Turkish TPAO (9 percent).

SOCAR signs loan agreements as part of constructing refinery in Turkey

The SOCAR Energy Turkey company signed loan agreements with some 23 financial institutions as part of constructing a new Star oil refinery in Turkey.

The agreements' total worth is $3.29 billion, a message posted on the website of Turkey's Public Disclosure Platform said.

As previously reported, some $3 billion out of the total borrowings accounted for export-import banks (Spain, Italy, Japan, the U.S. and South Korea) and 15 commercial foreign banks. Some $500 million will be provided by Turkey's Garanti Bankası.

The message posted on the website of Turkey's Public Disclosure Platform doesn't reflect the names of the banks participating in financing this project.

SOCAR sells 10% share in TANAP

Azerbaijan's State Oil Company (SOCAR) and Turkey's state-owned Botas Pipeline Company signed a contract in Istanbul for the sale of SOCAR's 10 percent share in the Trans Anatolian Pipeline (TANAP) project.

The contract was signed by the Botas Director General, Mehmet Konuk and SOCAR President and TANAP Board's Chairman, Rovnag Abdullayev.

The parties also signed a contract on transportation of gas via TANAP.

Azerbaijan's Energy Minister Natig Aliyev and his Turkish counterpart Taner Yildiz signed a memorandum of understanding on the TANAP project.

The purchase and sale contract will help to increase Botas' share in the project from 20 percent to 30 percent.

Following the completion of the deal with BP and Botas, the shares of SOCAR in this project will stand at 58 percent.

Kazakhstan prepares to implement pilot project on exploration and production of methane

A memorandum of association has been signed between Kazakhstan's KazTransGas JSC and the LeMar CA Inc. group of companies on creating a joint venture (JV), the JSC said.
The aim is to implement the investment project on exploration and production of methane in the Karaganda coal basin of Kazakhstan.

The document was signed by the president of the LeMar CA Inc. group of companies, Leon Popik and the Director General of the KazTransGas JSC, Serik Sultangali.

"This document gives a start to providing the country's northern regions with gas," Sultangali said after the signing ceremony.

New operator to be created for developing Kazakhstan's Kashagan field

A new operator will be created for developing Kazakhstan's Kashagan oil and gas field, the country's Oil and Gas Minister, Uzakbai Karabalin said at a press conference.

"The operating company NCOC is undergoing transformations, and accordingly, a new unified management system is being created. That's to say, a new operator will be created for the Kashagan field. It will include the best specialists of all the contractors of the consortium," Karabalin said.

A new director general of the new operator has already been appointed.

Turkmenistan to sign loan agreement with South Korea and Japan

State Bank for Foreign Economic Affairs of Turkmenistan signed agreements with Japan Bank for International Cooperation and Export-Import Bank of Korea to finance the construction, a source close to the negotiations said.

The amount of loan is reportedly $2.5 billion.

The complex will produce ethylene, high density polyethylene and polyethylene from natural gas produced on the coast of Caspian Sea. The production of the complex is oriented for export to the EU and Asian countries.

Compliance services become more relevant in Azerbaijan - PASHA Bank
Compliance services become more relevant in Azerbaijan - PASHA Bank
Azerbaijan interested in strengthening export and investment potential with Argentina
Azerbaijan interested in strengthening export and investment potential with Argentina
Azerbaijan State Oil and Industry University opens tender to buy internet service
Azerbaijan State Oil and Industry University opens tender to buy internet service
Loading Bars
Latest
Kazakhstan determines priorities of foreign policy
Compliance services become more relevant in Azerbaijan - PASHA Bank
Several servicemen killed in military helicopter crash in Turkey
Azerbaijan doing everything to create new transport infrastructure in South Caucasus – Russian analyst
New reality created in South Caucasus - head of department at Istanbul Kadir Has University
Demining of Azerbaijani lands complicated by Armenia’s refusal to provide maps of minefields - Expert
Long-awaited end to Karabakh conflict creates new opportunities - Former US ambassador to Azerbaijan
Azerbaijan shows footage from Kechikli village of Zangilan district (VIDEO)
Azerbaijan interested in strengthening export and investment potential with Argentina
President Aliyev gives speech at virtual Summit of Economic Cooperation Organization
MFA shares potential sectors of Lithuanian investment in Georgia
Georgian kiwi enters Japanese market
Azerbaijan's ENGINET company talks unique solutions for local market
Kazakh gold extracting venture opens tender to buy spares
Kazakhstan intends to attract funds to improve energy efficiency of facilities
Volume of food products sold in Baku's trade network increases
Georgia shows progress in curbing coronavirus cases - WHO
Azerbaijani Finance Ministry allocates funds for maintenance services
Restaurant business subsidizing program launched in Tbilisi
UK's Johnson says Brexit problems in Northern Ireland are solvable
Supporting Member Country ECAs: ICIEC endorse supportive reinsurance treaty with JLGC
Uztekstilprom, French Proparco talk profitable financing for textile projects
Georgian consulting company launching project for female entrepreneurs
Georgian wine export to US down
Russia and Azerbaijan lead in import of electricity to Georgia
Several low-cost airlines resume flights to Georgia
Azerbaijan-Belarus foreign trade operations for Jan. 2021 revealed
Azerbaijan confirms 124 more COVID-19 recoveries
Kazakhstan increasing control over development of oil and gas fields
State property privatization plan in Georgia surpasses initial plan
Several containers with cargo to pass through Azerbaijan along BTK railway - ADY Container
Rehabilitation centers can be established in Azerbaijan's liberated lands - Agency
Azerbaijan discloses number of imported cars in 2020
Uzbekistan’s 1M2021 profit for banks increases
Germany approves AstraZeneca for over-65s
New plant to be commissioned in Baku
Azerbaijan to receive Astra Zeneca vaccine via COVAX mechanism - WHO
Turkmengas opens again tender for operation of video surveillance system
Uzbekistan, Belarus agree to expand range of mutually supplied agricultural products
Uzbek currency rates for March 5
Italian Eni launches implementation of its solar energy project in Kazakhstan
Ensuring security in Karabakh our top priority - Turkish president
Georgia eyes to select new investor for Anaklia port
Creation of Kazakhstan-Azerbaijan Business Council under discussion
Covaxin demonstrates prowess of Atmanirbhar Bharat, says ICMR chief
India, Philippines sign key defence pact, set ball rolling for BrahMos missile sale
Turkey supports Georgia in deepening relations with Euro-Atlantic structures
Moldova Post plans to develop co-op with Turkmenistan in field of postal services
Georgia preparing for issuance of new Eurobond
Europe reviewing Russia's COVID-19 vaccine
German companies interested in funding Azerbaijan's railway projects
Uzbekistan to launch production of electric scooters in Fergana region
Azerbaijani State Customs Committee chairman names most-imported products for 2020
India, Norway to work together in marine spatial planning
PM Modi may launch trading points, connectivity projects in Dhaka
India to fund NRs 246 million for reconstruction of Cultural Heritages in Nepal
Kazakhstan, Tajikistan resuming mutual air traffic
Several ships and related facilities to be launched in Iranian ports
Iran reveals COVID-19 data for March 4
Azerbaijani FM’s letter to UN sec-gen disseminated as document of organization
Kazakhstan increases imports of Iran-made goods
Georgia plans to create new economic development plan
Baku Statistical Department discloses Jan. 2021 volume of paid services to citizens
Electricity production in Georgia to increase after Namakhvani HPP is ready
Uzbekistan reveals volume of industrial production for Jan. 2021
Students and graduates of Baku Higher Oil School shown high results in entrance exams for master's degree programs
Azerbaijani PASHA Bank eyes attracting IT companies to implement joint projects
Azerbaijani banks' demand at foreign exchange auction decrease
Iran’s Bahar Azadi gold coin price fell
Azerbaijan, Turkey to hold joint military exercises (PHOTO)
Turkish foreign minister to visit Uzbekistan
Volume of cargo loaded, unloaded in Iran’s Dayyer port revealed
Kazakhstan’s Ulba Metallurgical Plant announces tender to buy accumulators
Moldova Post talks details of postal communication resumption with Turkmenistan
Buta Airways to launch ticket sales for Baku-Istanbul-Baku Flights
Iran Khodro Company expects to meet forecasts
Azerbaijani IT company seeks to promote smart home systems abroad
Iran declares data of exports, imports via Astara port
Several mines produced by Armenia found in Azerbaijan’s Aghdam district - Trend TV reports
Azerbaijan releases 2M2021 data on transactions of local investment companies'
EU delegation's head talks interest in raising Azerbaijani regions' financial inclusion
Most of construction work in Baku during Jan. 2021 carried out by private companies
BlackRock builds 5% stake in Toshiba, becomes third largest shareholder
Iran discloses volume of rapeseed to be harvested
Azerbaijan, Iran negotiating to open customs post on border, in Khudaferin village
Uniper sees increase in generation capacity
EU invests in micro-entrepreneurship dev't in Azerbaijani districts
Azerbaijan gives update on number of COVID-19 vaccinated citizens
Turkmenistan to expand production of Balkanabat iodine plant
Azerbaijan expects creating new broadcasting opportunities for Internet TV, radio channels
Belarus excludes Azerbaijan from list of countries with heavy COVID-19 situation
Israeli identity validation co Identiq raises $47m
Kazakhstan boosts trade turnover with India despite COVID-19
Industrial oil inflow received at Turkmen field
Exxon and Macquarie in $11.7 billion U.S. lawsuit over gas contract
China boosts steel imports from Turkey
Georgia reports 133 new cases of coronavirus for March 4
Azerbaijan considers joint military exercises with Pakistan - President Aliyev
Azerbaijan wants peace and is promoting peace today - President Aliyev
President Aliyev: We hope Pakistan will join existing, emerging transport routes Azerbaijan
All news